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The “Path Forward” Blocked?

The Wall Street Journal is reporting that the Commodity Futures Trading Commission may rule, by the end of this week, that regulations regarding the central clearing of swaps in five foreign jurisdictions, including those in Europe under EMIR, do not meet equivalence standards.  If confirmed, this development threatens to leave some firms in the position whereby they would have to comply with multiple regulatory regimes and would deal a near-fatal blow to efforts to align the cross-border regulations of derivatives.

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